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RMB inclusion into SDR basket signals near-term stability

The long-expected announcement of the RMB joining the prestigious Special Drawing Rights (SDR) basket of the International Monetary Fund (IMF) came through yesterday, marking a big step forward for the currency’s on-going internationalisation progress. It should also in the near term lend stability to the yuan, experts note. The RMB is now the fifth reserve currency in the SDR basket,…

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